Citigroup Cuts Forestar Group (NYSE:FOR) Price Target to $32.00

Forestar Group (NYSE:FOR) had its target price reduced by Citigroup from $39.00 to $32.00 in a report published on Thursday,Benzinga reports. Citigroup currently has a buy rating on the oil and gas exploration company’s stock.

Forestar Group Stock Performance

Shares of FOR stock opened at $23.46 on Thursday. The stock’s 50-day moving average is $27.16 and its two-hundred day moving average is $29.88. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.61 and a current ratio of 0.50. Forestar Group has a 1 year low of $23.38 and a 1 year high of $40.92. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 6.57 and a beta of 1.74.

Forestar Group (NYSE:FOR) last released its quarterly earnings results on Tuesday, January 21st. The oil and gas exploration company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.33). The firm had revenue of $250.40 million for the quarter, compared to analysts’ expectations of $318,000 billion. Forestar Group had a return on equity of 11.74% and a net margin of 12.50%. The business’s revenue was down 18.1% on a year-over-year basis. Analysts predict that Forestar Group will post 3.67 earnings per share for the current year.

Institutional Trading of Forestar Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its position in Forestar Group by 9.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,438,669 shares of the oil and gas exploration company’s stock worth $78,012,000 after purchasing an additional 201,032 shares during the last quarter. Woodson Capital Management LP grew its holdings in shares of Forestar Group by 12.0% during the third quarter. Woodson Capital Management LP now owns 560,000 shares of the oil and gas exploration company’s stock worth $18,127,000 after buying an additional 60,000 shares during the last quarter. Swedbank AB purchased a new position in shares of Forestar Group during the fourth quarter worth about $1,296,000. Moody Aldrich Partners LLC increased its position in Forestar Group by 27.2% in the 3rd quarter. Moody Aldrich Partners LLC now owns 216,354 shares of the oil and gas exploration company’s stock valued at $7,003,000 after acquiring an additional 46,250 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Forestar Group by 13.7% during the 3rd quarter. Principal Financial Group Inc. now owns 360,471 shares of the oil and gas exploration company’s stock valued at $11,668,000 after acquiring an additional 43,369 shares during the last quarter. Hedge funds and other institutional investors own 35.50% of the company’s stock.

Forestar Group Company Profile

Forestar Group Inc operates as a residential lot development company in the United States. The company acquires land and develops infrastructure for single-family residential communities. It sells its residential single-family finished lots to local, regional, and national homebuilders. The company was incorporated in 2005 and is headquartered in Arlington, Texas.